OTTAWA – The family car is learning more about who’s behind the wheel – everything from where a driver likes to shop to how hard they brake – as automakers roll out new tech-savvy features. With cars collecting and even…
Variable speed signs are being installed on sections of the Coquihalla, the Trans-Canada Highway and the Sea to Sky Highway in British Columbia as part of a pilot project to help reduce the frequency of weather-related crashes. With the rapidly…
Conditions are changing at breakneck speed for Canada’s property and casualty insurance industry. With 2016 providing little promise things will slow down – allowing slow-adopters to catch up – primary insurers need to keep pace or be left in the dust. All that demands plotting the best route forward, knowing when to rev up or slow down, to reach the final destination.
Environment Canada has issued wind warnings for Wednesday night for coastal and southern British Columbia. An alert from Environment Canada for the central coast said that a storm will approach the B.C. coast on Wednesday night, with strong southeast winds…
A panel appointed by the Ontario Ministry of Finance has recommended the creation of a new regulatory agency to operate as an “integrated regulator of financial services with distinct market conduct, pensions and prudential regulatory functions; operating independently of each…
Saskatchewan Government Insurance (SGI) and police in the province will be on the lookout for people driving too fast for road conditions throughout the month of November. “You don’t know exactly when winter’s coming and it happens very quickly when…
The relative calm for the (re)insurance industry cannot last forever. Catastrophes will happen and disruptive conditions persist, subjecting the market to continuing and accumulating pressure. Despite still positive returns, how long can the reinsurance industry hold out before this pressure necessitates in material change? Is the industry at, or nearing, its tipping point?
Peer-to-peer technologies are allowing individuals to offer rides in their cars to people for a fee, and to rent their houses to strangers. For adjusters, claims arising out of these new shared economies are anything but simple.
Hurricane Katrina, the single event that has come to represent incredible loss inflicted by two challenging hurricane seasons, has twisted and turned its way into a somewhat surprising legacy. From risk management to preparedness and catastrophe modelling, the eye of the storm has been refocused on a number of lasting positives.
The simple autonomous vehicle may be just around the corner. But insurers need to be prepared – including by identifying new risks associated with changes in driver behaviour – to be able to successfully negotiate the inevitable speed bumps on the road to autonomy.
Ontario’s auto insurance system is unrecognizable, and it is time to stop tinkering. The concept of using an insurance system to provide a social safety net is flawed, perhaps requiring in its place a system where private insurance companies provide both third-party liability and physical damage coverage while a Crown corporation delivers accident benefits.
Cyber criminals have perpetrated – and continue to perpetrate – on banks around the world a spin on the classic bait-and-switch manoeuvre. The new form of phishing has already proved very costly and should serve as a caution that all industries, not just financial institutions, need to develop cyber resilience to avoid getting hooked in.